CAVA Group reported robust Q2 2024 financial results, with revenue increasing 35.2% to $233.5 million, driven by 14.4% same-restaurant sales growth and 78 net new restaurant openings. Net income more than tripled to $19.7 million from $6.5 million year-over-year, while Adjusted EBITDA rose 59% to $34.3 million with margin expanding to 14.7%.The fast-casual Mediterranean chain demonstrated strong operational execution, opening 18 new restaurants during the quarter to reach 341 locations. Restaurant-level profit grew 37.3% to $61.3 million, with margin improving to 26.5%. Digital revenue remained steady at 35.8% of total sales, while guest traffic increased 9.5%.Looking ahead, CAVA maintains robust expansion plans while focusing on operational efficiency. The company's strong cash position of $343.7 million and zero debt provides ample liquidity for continued growth. Management highlighted potential release of tax valuation allowances given sustained profitability trends, which could positively impact future earnings.

CAVA Group reported robust Q2 2024 financial results, with revenue increasing 35.2% to $233.5 million, driven by 14.4% same-restaurant sales growth and 78 net new restaurant openings. Net income more than tripled to $19.7 million from $6.5 million year-over-year, while Adjusted EBITDA rose 59% to $34.3 million with margin expanding to 14.7%.The fast-casual Mediterranean chain demonstrated strong operational execution, opening 18 new restaurants during the quarter to reach 341 locations. Restaurant-level profit grew 37.3% to $61.3 million, with margin improving to 26.5%. Digital revenue remained steady at 35.8% of total sales, while guest traffic increased 9.5%.Looking ahead, CAVA maintains robust expansion plans while focusing on operational efficiency. The company's strong cash position of $343.7 million and zero debt provides ample liquidity for continued growth. Management highlighted potential release of tax valuation allowances given sustained profitability trends, which could positively impact future earnings.